California commercial loan delinquencies at 3-year low

For the 29th consecutive quarter, the California Commercial Loan Delinquency Ratio is below one half of 1 percent, according to the latest survey conducted by the California Mortgage Bankers Association. The survey found 99.86 percent of the California commercial real estate loans serviced by 17 mortgage banking firms were either current or only one payment delinquent, unchanged from the Sept. 30th survey. This translates into a delinquency ratio of .14 percent, matching the three-year low ratio of Dec. 31, 2002. A year ago the delinquency ratio was .2 percent. Additionally, 15 of the 17 companies reported no loans more than 30 days delinquent. Of the $72.3 billions of loans being serviced by the 17 California commercial mortgage bankers, $103.8 million, consisting of 17 individual loans, was two or more payments past due. By types of property, office-building delinquencies were .3 percent (compared to .34 percent three months ago), retail property loans were .12 percent delinquent...